Circular Economy

Waste is a design flaw.

Looking beyond the current single-use waste economy, a circular economy aims to redefine growth, focusing on positive holistic benefits. It entails decoupling economic activity from the consumption of finite resources, and designing waste out of the system. The circular economy aims to keep products, equipment and infrastructure in use for longer, thus improving the productivity of resources.


How Circular Economy Works

1. Make Goods- Products need to be designed differently so that they can be used longer, resold, repaired, upgraded, and upcycled into new products.

2. Consume Goods- A circular economy favors activities that preserve value in the form of energy, labor, and materials. Being cognoscente of how we consume goods is an imperative place to start.

3. Repair the goods- Repairing is the rebuilding of a product to specifications of the original manufactured product using a combination of reused, repaired and new parts.

4. Reuse the goods- With the right designs, companies can create new systems and services to reuse materials and not waste the energy used to create them.

5. Recycle the goods and make them into something new- A circular economy avoids the use of non-renewable resources and preserves or enhances renewable ones, for instance by returning valuable nutrients to the soil to support regeneration, or using renewable energy as opposed to relying on fossil fuels.


Plastic Waste Management

There is a clear hierarchy from top to bottom of addressing the problem of plastic waste. Avoiding unnecessary plastic is at the top of the hierarchy. Reuse is next, then mechanical recycling and pyrolysis or chemical recycling, which is suitable for anything that can’t be mechanically recycled.

Source:    BCG

Source: BCG


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